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deficits, but by 2011 had come to feel constrained by inherited debt to withdraw fiscal stimulus. Chile has achieved … so. Chile has a rule that targets a structural budget balance. But rules are not credible by themselves. In Europe and … the U.S., official forecasts are overly optimistic in booms; so revenue is spent rather than saved. Chile avoids such …
Persistent link: https://www.econbiz.de/10013124011
Tax reform is an urgent priority, as Japan needs as much as 5% to 6% of GDP of additional government revenue just to stabilise public debt, which has risen to 180% of GDP. In addition to raising revenue, tax reform should promote economic growth, address the deterioration in income distribution...
Persistent link: https://www.econbiz.de/10012444635
Pension policy reforms across the world in recent decades are a reaction to the changing demographic and socioeconomic environment. While pension scheme redesign has received much attention, the tax treatment of contributions, returns, and benefits of retirement savings remains mostly unattended...
Persistent link: https://www.econbiz.de/10012998722
Persistent link: https://www.econbiz.de/10011415364
Chile implemented large pension withdrawals during the pandemic relative to other countries. Afterwards, Chile …
Persistent link: https://www.econbiz.de/10015078270
The Structural Vector Auto-regression (SVAR) approach to estimating fiscal multipliers, following the seminal paper by Blanchard and Perotti (2002), has been widely applied in the literature. In our pa-per we discuss the interpretation of these estimates and suggest that they are more useful for...
Persistent link: https://www.econbiz.de/10010343287
Die zentrale finanzpolitische Aufgabe der kommenden Jahre wird die Konsolidierung der öffentlichen Haushalte sein. Auch nach Bewältigung der Rezession werden weiterhin "strukturelle" Defizite in einer Größenordnung von drei bis vier Prozent des Bruttoinlandsprodukts bestehen bleiben....
Persistent link: https://www.econbiz.de/10010377910
Nach der Bundestagswahl schlägt die Stunde der finanzpolitischen Wahrheit. Wer auch immer die nächste Bundesregierung stellt: Der Kassensturz nach der Wahl wird zeigen, dass kaum noch finanzpolitischer Handlungsspielraum besteht. Die öffentlichen Haushalte haben sich im Zuge der Rezession...
Persistent link: https://www.econbiz.de/10011602056
The relationship between government revenue and government expenditure has been an important topic in public economics, given its relevance for policy especially with respect to the budget deficit. The purpose of this paper is to investigate the relationship between government revenue and...
Persistent link: https://www.econbiz.de/10011111149
Advanced economies have a longer history of leveraging fiscal policy to address inequality relative to developing Asia. We examine the country experiences of the Nordic countries, France, Japan, and the US, to draw lessons for developing Asia in its relatively new quest to use fiscal policy to...
Persistent link: https://www.econbiz.de/10011166009